Paytm has had a turning point spurred by demonetization and the significant growth in its operation and management has led to another growth in Human Resource Department. Sources says that the employees downsized by the E-commerce portal Snapdeal and Stayzilla a homestay platform is on the verge of getting employment in Paytm.
A recent tweet by the CEO, Paytm, Vijay Shekhar Sharma said ” Hello, Tech/Product people in Delhi NCR, feeling Heat of business restructuring? We welcome you @Paytm & @Paytm- Mall with open arms.
Though it specifically didn’t signifies the employment generation to the downsized employees at Snapdeal & Stayzilla, but the recent news of Snapdeal giving pink slips to another 600 employees creating uncertainty and Stayzilla shutting down could be noted.
Paytm has launched Paytm-Mall recently, it is an E-commerce side of the company segregating from the wallet side. Thus, a good strength of employees are required to be engaged.
Snapdeal has seen a severe condition in its functioning lately. It has laid-off many of its employees from the working place. The growth was insignificantly charged up and the desired result was not achieved. Only up to 1,000 of employees is expected to retain in the company, with low salary and the admission from its inception. Investment are made accordingly excluding non-core assets for reducing costs. One of the workers said“We are being asked to achieve an 85% customer satisfaction score, which is impossible because the company’s score has never crossed 62-64%,” she added “Hence, most of us are leaving because we don’t want this to show in our resume.”
Stayzilla has halted its operation till date it finds a different business model.
“Initial seven years were all about having negative working capital, positive cash flow and a sustained ability to fund our own growth, and those were the only metrics we tracked.” said Yogendra Vaspul, CEO, Stayzilla.